20 February 2013 04:45 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Mitsui Chemicals Inc (MCI) said on Wednesday it will acquire 51% of Korean firm KOC Solution Co Ltd (KOC) for an undisclosed amount.
KOC, a Korean manufacturer and distributor of plastic optical lenses monomers, will become a subsidiary of Mitsui Chemicals once the stake acquisition is completed, the Japanese firm said in a statement.
“MCI positions optical lenses monomers as one of [the] five priority businesses – businesses resilient to economic changes – under its fiscal 2011 mid-term business plan,” it said.
KOC has factories at Sejong in South Korea, and at Jiangsu in China.
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